The Real Deal Miami

Worst of the housing slump may be over

August 13, 2008 10:46AM

The U.S. is still suffering a severe housing market downturn, but the worst of it may be over. Home prices in many parts of the country are falling at a slower rate than previous months, according to Standard and Poor’s S&P/Case-Shiller Home Price Indices, and in some areas prices have started to rise. The housing market is affecting other industries, like construction, appliance and furniture sales, and a strengthening market could have a turnaround effect on the larger economy.